FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Double Bottom pattern has been formed on AUDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 110.82 is broken. The further movements will rely on the width of the current pattern 13 points.

The Double Top reversal pattern has been formed on AUDJPY M5. Characteristics: the upper boundary 111.17; the lower boundary 111.05; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 111.05 with a possible movements towards the 110.90 level.

The Bullish pennant graphic pattern has formed on the AUDJPY M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 111.46.

According to M5, AUDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 110.75/110.72 is broken out, the instrument is likely to move toward 110.87.

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 111.08; the lower boundary is 110.87. The width of the pattern is 22 points. In case of a break of the upper boundary 111.08, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.